The US traditional financial market continues to surge, with the S&P 500 ($SPX) reaching new all-time highs last week. November’s rally was one of the strongest on record as to generated a 3.42% gain.

A top Federal Reserve official says he is leaning toward supporting an interest rate cut when the Fed meets in two weeks but that evidence of persistent inflation before then could cause him to change that view.

Federal Reserve officials say they are likely to keep reducing interest rates for now, and investors still expect them to do so at the U.S. central bank's Dec. 17-18 meeting.

Federal Reserve Governor Christopher Waller said on Monday he was inclined to cut the benchmark interest rate at the Dec. 17-18 meeting as monetary policy remained restrictive enough to keep putting downward pressure on inflation,

Federal Reserve Governor Christopher Waller said Monday he is anticipating an interest rate cut in December but is concerned about recent trends on inflation that could change his mind. "Based on the economic data in hand today and forecasts that show that inflation will continue on its downward path to 2 percent over the medium term,

The central bank governor said that while the recent uptick in inflation does raise concerns that price growth could get stuck above the Fed’s 2% goal, he doesn’t want to overreact.